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Colibri Resource Partner to Begin Mapping at Its El Mezquite Gold Project in Sonora, Mexico
Dieppe, New Brunswick--(Newsfile Corp. - July 28, 2020) - Colibri Resource Corporation (TSXV: ...
About this update from Colibri Resource Corporation
[{"type":"text","content":"Colibri Resource Partner to Begin Mapping at Its El Mezquite Gold Project in Sonora, MexicoDieppe, New Brunswick--(Newsfile Corp. - July 28, 2020) - Colibri Resource Corporation (TSXV: CBI) (\"Colibri\" or the \"Company\") is pleased to announce that it has received notice from its partner, Silver Spruce Resources (TSX-V:SSE) that Phase 1 ground exploration program on the El Mezquite Gold Project will commence during the first week of August 2020. Silver Spruce recently signed a binding Option Agreement with Colibri to acquire 50% interest in its wholly owned Mexican subsidiary, Yaque Minerales S.A de C.V. (\"Yaque\"), which holds the El Mezquite Gold project (\"the Property\"), a precious metal project located 10 km northwest of the town of Tepoca, and 170 km southeast of the capital city of Hermosillo, eastern Sonora, Mexico.The Property is very well situated in terms of logistics for exploration and is located only twelve kilometres northeast of the Nicho deposit currently under mine development by Minera Alamos. The 180-hectare Property is easily accessible from Highway #16 via a southerly-trending unpaved road which traverses through the centre of the known gold mineralization. High voltage power lines are positioned along Highway #16.Exploration in the surrounding area is highly active with adjacent and nearby properties held by Evrim, Newmont, Garibaldi, Kootenay Silver and Penoles. Other nearby large operating mines include Alamos Gold's Los Mulatos gold mine and Agnico Eagle's La India gold mine located 50 and 58 km to the northeast, respectively, Agnico's Pinos Altos Mine, 100 km southeast and Argonaut's La Colorada Mine, 100 km west. Phase 1 Exploration ProgramSilver Spruce has arranged a four-person team with two senior geologists and two samplers, with all necessary logistical support, to undertake a detailed ground exploration program which was recommended in part by the independent 43-101 report on the property, The program will include geological mapping of the entire property and rock sampling for precious metal assays and determination of alteration type and intensity and using the Terraspec hyperspectral tool for the definition of the silicate, carbonate and hydrous oxide minerals. The mapping also will document structural observations which will be correlated with known structural and geophysical trends in th...